Ibn Taimiyyah’s Thought on Price Regulation in Housing Affordability

Musaddad, Hafirda Akma; Zainol, Zairy; Maamor, Selamah

doi:10.24035/ijit.22.2022.237

Cited by 4 publications

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“…It has a clear concept of good behavior and an orderly market, with knowledge, honesty, fair play, and freedom of choice as basic elements. The purpose of the normal ways (fair), traders should sell their wares in a fair and in accordance with the market rules, without any unjust actions or dishonesty of a merchant (Musaddad et al, 2022).…”

Section: Ibn Taimiyah's Thoughts About Price Regulationmentioning

confidence: 99%

COOKING OIL PRICE CONTROL POLICY IN INDONESIA (A review of Ibn Taimiyah's thoughts)

Huda

Sidiq

2023

reinforce

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This study aims to analyze cooking oil price control policies in Indonesia by examining Ibn Taimiyah's thoughts about market mechanisms and price interventions. The research method used is a qualitative research methodology with a literature study approach. The research results show that the market mechanism in Islam is free of any intervention. However, the government can intervene in market prices when distortions occur. The government's policy of providing cooking oil subsidies to the less fortunate and setting the lowest retail price is permissible because there are conditions where producers do not want to sell their goods except at a price higher than the general market price, even though consumers really need these goods. According to Ibnu Taimiyah, the government may intervene in prices and limit sales after conducting negotiations, discussions, and consultations with interested communities.

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Section: Ibn Taimiyah's Thoughts About Price Regulationmentioning

confidence: 99%

COOKING OIL PRICE CONTROL POLICY IN INDONESIA (A review of Ibn Taimiyah's thoughts)

Huda

Sidiq

2023

reinforce

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“…Since then, the Median Multiple has been regularly used to compare housing affordability between markets by various organizations, such as the Joint Centre for Housing Studies at Harvard University, the Organization for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF), The Economist, and others (Demographia 2020). The Median Multiple is widely used for evaluating housing affordability, and it can be easily computed by having the median house price divided by the median household income (Akma Musaddad et al 2022;Jais 2022). Thereafter, the Median Multiple obtains certain scores, which can be categorized as follows:…”

Section: Introductionmentioning

confidence: 99%

Constructing Housing Affordability Index in Malaysia

2024

JEM

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This study aims to construct a housing affordability index that incorporates the financial elements namely the household income, house prices and housing lending rate. It further measure the level of housing affordability by income classifications and by states. This study also examines the extent of unaffordability among the lowest income group. We use the National Association of Realtors (NAR)-based housing affordability index that requires three clusters of data namely, the household gross income, house price, and housing loans rate. We use Malaysian data from the Department of Statistics, National Property Information Centre, and Central Bank of Malaysia. The findings show that Melaka has a high level of housing affordability, whilst Sabah had a low level of housing affordability. Meanwhile, the bottom 40 percent (B40) of income group was detected to have very poor home affordability compared to that of middle 40 percent (M40) and top 20 percent (T20) groups in Malaysia. It further capture the level of unaffordability among the B40 segment of the population, which was lacking in previous studies. This study contributes to the literature by incorporating the financial element into the formulation of the index namely, the household income, house price, and loan rate. This is to ensure that the reliability and validity of the formula developed. This research benefits various stakeholders by providing a refined and better housing affordability index that can be utilized as a benchmark for certain levels of housing affordability.

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“…The cost rise is attributable to the pandemic, the delay in time and the building supply chain interruptions (Birruntha, 2021). There has recently been widespread public debate and media attention around housing affordability in Malaysia as it is one of the key measures for the stability of a country’s (Musaddad, 2022).…”

Section: Introductionmentioning

confidence: 99%

The relationship between macroeconomic variables on residential property price: case study in Malaysia before and during COVID-19

Zulkarnain

Nawi²

2023

IJHMA

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Purpose The purpose of this study is to analyse numerous aspects affecting residential property price in Malaysia against macroeconomics issues such as gross domestic product (GDP), exchange rate, unemployment and wage. Design/methodology/approach The hedonic pricing model has been adopted as econometric model for this research to investigate the relationship between residential property price against macroeconomics indicator. The data for residential property price and macroeconomic variables were collected from 1991 to 2019. Multiple linear regression had been adopted to find the relationship between the dependent and independent variables. Findings The result shows that the GDP has a significant positive impact on residential property price, while exchange rate has no significant impact although it was positive. In addition, the unemployment rate has a significant impact on the residential property price and has a negative relationship. Similar to the wage that shows the negative relationship with residential property prices. Moreover, during the pandemic COVID-19 in Malaysia, this research shows a more transparent view of the relationship between residential property price and the macroeconomic issues of GDP, exchange rate, unemployment and wage. Originality/value The findings of this research found that macroeconomics issue cannot be eliminated due to Malaysia is a developing country, and there will always be an issue that will happen, but the issues can be reduced to maximise the advantages, e.g. during COVID-19, the solution to fight against COVID-19 were crucial and weaken the macroeconomics issues.

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Ibn Taimiyyah’s Thought on Price Regulation in Housing Affordability

Cited by 4 publications

References 0 publications

COOKING OIL PRICE CONTROL POLICY IN INDONESIA (A review of Ibn Taimiyah's thoughts)

COOKING OIL PRICE CONTROL POLICY IN INDONESIA (A review of Ibn Taimiyah's thoughts)

Constructing Housing Affordability Index in Malaysia

The relationship between macroeconomic variables on residential property price: case study in Malaysia before and during COVID-19

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